FCT Seeks Approval from RMAFC to Unlock Funds for Infrastructure Development

The administration of the Federal Capital Territory has reached out to the Revenue Mobilisation Allocation and Fiscal Commission requesting permission to utilize funds from the Natural Resources Development Fund for financing various infrastructure initiatives throughout the region.

On Friday, as stated by Maryam Yusuf, the spokesperson for the RMAFC, the team representing the FCT was headed by Mr Michael Ango, acting chairman of the FCT-Internal Revenue Service. He stood in place of the FCT minister, Mr Nyesom Wike.

The presentation took place on Wednesday for the Commission’s Fiscal Efficiency and Budget Committee at their offices in Abuja.

Accepting the delegation on behalf of the Commission, Desmond Akawor, who serves as both the Chairman of the Committee and the Federal Commissioner from Rivers State, praised the FCT Minister for his “forward-thinking methods” in harnessing the capital city’s natural assets.

“The Commission appreciates the honorable minister’s pioneering methods for developing certain natural assets within the Federal Capital Territory via agriculture, solid minerals, and tourism, aiming to boost the socioeconomic progress of both the FCT and Nigeria overall,” according to statements attributed to Akawor.

He stated that the 1.68 percent Development of Natural Resources Fund is among the specific funds set up under theRevenue Allocation (Federation Account, etc.)Act, CAP A15 LFN, 2004.

He mentioned that the fund gets regular monthly contributions directly from the Federation Account and is kept in trust for the three levels of government.

As per his statement, the fund aims to foster economic diversification via investments in agriculture, solid minerals, and tourism sectors.

“To obtain the funds, the Commission set up a process wherein the requesting organization must deliver a formal presentation to the Commission via the Fiscal Efficiency and Budget Committee,” he explained.

He mentioned that the Committee will conduct a physical evaluation to confirm the feasibility of the suggested initiatives prior to presenting their suggestions to the President.

Akawor reassured the FCT group that the Committee will guarantee impartiality and equality when providing its suggestions.

“We will follow the goals for which the Fund was created,” he stated.

During his speech, Ango, speaking on behalf of the Minister, mentioned that the FCT aims to secure funding for various initiatives. These include rehabilitating and cleaning out reservoirs like Lower Usuma Dam, Pedan Dam, Jabi Lake, and Kilankwa Dam to facilitate consistent agricultural output throughout the year. Additionally, they plan to install solar-driven irrigation systems and set up six centers focused on providing mechanization services.

Alternative suggested initiatives encompass acquiring tractors and machinery for small-scale cultivators, supplying on-site storage and harvest tools, updating cereal and livestock market systems, enhancing animal healthcare services, as well as fostering the FCT’s travel and natural resource industries.

In the interactive segment, committee members posed queries about the goals, execution plan, and anticipated effects of the initiatives.

In response, Ango assured the Commission that “the funds would be prudently utilized if permission to access them is granted.”

During his vote of thanks, Ayuba Jacob Ngbako, who represents the FCT as the federal commissioner, praised the FCT-IRS for its initiative in enhancing internally generated revenue. He also referred to the agency’s development plan as “a crucial catalyst for sustained national progress.”

He further emphasized RMAFC’s dedication to fiscal discipline, transparency, and rigorous assessment when reviewing applications for financial support through the Natural Resources Development Fund.

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